MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
BUSINESS
COMMUNICATIONS LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
4th September 1976 |
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Com. Reg. No.: |
42012, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the
import and distribution of household electrical appliances,
telecommunications equipment, fire fighting and safety equipment, computer
equipment and security control and alarm products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BUSINESS COMMUNICATIONS LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 4th September 1976
Commercial Registration Number :
42012,
Trade Licence Number : 202771
Membership Number : 2526
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Total Workforce : 65
Line of Business : Distributors of household electrical appliances, telecommunications
equipment, fire fighting and safety equipment, computer equipment and
security control and alarm products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BUSINESS
COMMUNICATIONS LLC
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Naif
PO Box : 233
Town :
Country :
Telephone : (971-4) 2220186 / 2225135
Facsimile : (971-4) 2236193 / 3316465
Email : info@bcluae.com
Premises
Subject operates from
a medium sized suite of offices and a showroom that are owned and located in
the Central Business Area of Dubai.
Branch Office (s)
Location Description
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Tel: (971-2) 6348495
KEY PRINCIPALS
Name Nationality Position
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Ian
Macdonald Mack British Managing Director
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Abdullah
Mohamed Saleh Emirati Director
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Ahmed
Abdul Rahim Baker Emirati Director
LEGAL FORM &
OWNERS
Date of Establishment : 4th
September 1976
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 42012,
Trade Licence No. : 202771
(Expires 5th February 2008)
Membership No. : 2526
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Name of Shareholder
(s) Percentage
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Dutco
Tennant LLC 98%
Naif
PO Box : 233
Tel : (971-4) 2220186
Fax : (971-4) 2236193
Email : info@dutcotennant.com
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Abdullah
Mohamed Saleh
1%
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Ahmed
Abdul Rahim Baker 1%
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a company incorporated with not less than two and not more than fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company (LLC) should not be less than UAE Dh 300,000, which should be divided into equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds.
Non UAE Participation
The participation of non-Emirati in a trade or business in the
It is common for the 51 percent to be held by the UAE national on paper only with the foreign partner(s) providing all the capital requirements for the company and paying an annual fee to the local partner.
Under this arrangement the above ownership may not reflect the actual profit distribution within the company, as the company may have internal management agreements in place that provides full management of the company in return for a share of the company’s assets and profits. This internal relationship may or may not be recognised by law depending on the way the internal agreement is made.
AFFILIATED COMPANIES
Subject is a member of the Dutco Group of Companies, which has
operations dating back to 1947, and has activities covering large-scale civil
engineering work, earth-moving, mechanical and electrical engineering, drainage
and tunnelling, civil engineering, dredging, survey and reclamation, pipeline
engineering, information technology and telecommunications, shipping and
freight services, trading and luxury hotel operations. The Dutco Group of Companies employs
approximately 6,000 people.
The Dutco Group of Companies consists of the following concerns:
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Dutco Construction Company LLC
PO Box : 233
Tel : (971-4) 8801010
Fax : (971-4) 8801515
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Dutco Brochier LLC
PO Box : 233
Tel : (971-4) 8801010
Fax : (971-4) 8801515
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Gulf Cobla LLC
PO Box : 5708
Tel : (971-4) 3241023
Fax : (971-4) 3241632
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Dutco Balfour Beatty (DBB) LLC
PO Box : 8944
Tel : (971-4) 2858867
Fax : (971-4) 2859087
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B.K. Gulf LLC
PO Box : 10079
Tel : (971-4) 2858455
Fax : (971-4) 2859392
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PWD Corporation
PO Box : 34601
Tel : (971-4) 3211182
Fax : (971-4) 3211184
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Lionweld Kennedy Middle
PO Box : 233
Tel : (971-4) 8801125
Fax : (971-4) 8801163
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Modern Freight LLC
PO Box : 5727
Tel : (971-4) 3521625
Fax : (971-4) 3520612
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Dutco Hotels LLC
PO Box : 9255
Tel : (971-4) 8836000
Fax : (971-4) 8835543
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Dutco McConnell Dowell LLC
PO Box : 50733
Tel : (971-4) 8801083
Fax : (971-4) 8801156
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International OCTANE Limited
PO Box : 233
Tel : (971-4) 2660311
Fax : (971-4) 2665157
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
household electrical appliances, telecommunications equipment, fire fighting
and safety equipment, computer equipment and security control and alarm
products.
Subject also offers
installation and maintenance services.
Import Countries
: Europe and the
International
Suppliers :
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Chubb
Alarms
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Rediffusion
Business Electronics
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Marconi
Instruments
Operating Trend
: Steady
Subject has a
workforce of 65 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh 20,180,000 UAE Dh 22,375,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
PO Box : 777
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1976, subject enjoys a good reputation for the quality of its products and is a
member of the well-known Dutco Group of Companies.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk and the above credit figure is
deemed to be within subject’s financial means.
Maximum suggested
credit figure: US$ 600,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)